Uber Revs Up for a Big U.N. Campaign; Credit Suisse Says Auf Wiedersehen to CEO; Barnes and Noble Books Not Terrible Earnings

Put the pedal to the metal…

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Über is stepping on the p.r. gas and teaming up with U.N. Women for a big campaign. There is probably a joke in there somewhere about irony but I’ll let you come up with it. In honor of the twenty year anniversary of the Beijing Declaration – a provision promising global gender equality – Über wants to help foster and facilitate economic growth for women through the “Step It Up For Gender Equality” program. The idea is to employ 1 million women as Über drivers by 2020. But here’s the tricky part: Both Über and U.N. Women need to be present in a region. U.N. Women is only present in 48 countries while Über is allowed to operate in 55 countries, and the two don’t always coincide. Sadly, Über is more globally successful than gender equality. But that’s for another blog. Of course, it’s also hard to ignore all the scandals and issues Über has been having with not just female passengers who have been victims of violent drivers, but female drivers who have been harassed by passengers, as well. Currently, 14% of Über’s 160,000 drivers are women. This latest initiative, though no doubt noble and sincere, tends to also suggest that Über’s got some major fiscal growth plans up its tailpipe – continuing to intrigue investors who can’t seem to stop throwing billions of dollars Über’s way.

Nein…

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Credit Suisse CEO Brady Dougan has announced he will be leaving the Swiss bank in June and giving the position over to Prudential’s Tidjane Thiam. Dougan, who had been at the post since 2007, said the decision to leave was mutual. Of course it was. For a while investors had wanted Dougan to cut back on the investment arm, but the CEO resisted. His resistance did not pay off. Combine that with the $2.5 billion Credit Suisse had to pay U.S.authorities for helping its clients evade taxes and, well, here we are today, discussing Dougan’s resignation. As the first American selected to be CEO of Credit Suisse, the Swiss media just wasn’t that into him from the start. His loyalty was questioned and he took heat for his pay packages. Also, Dougan doesn’t speak German, which apparently didn’t sit well the Swiss media either (and presumably, many many others). News of the impending change sent the stock climbing.

 Book it….

Image courtesy of adamr/FreeDigitalPhotos.net

Image courtesy of adamr/FreeDigitalPhotos.net

Barnes & Noble’s quarterly results are in and the word is that revenue is down 1.7%  to $1.96 billion. This ought to surprise no one. And if it does surprise you then I have one word for you: Nook. The e-reader has been nothing but a giant money pit for the bookseller even with Samsung trying to come to its rescue by putting out the first new tablet for Nook in two years. What ought to surprise everyone is that B&N didn’t do nearly as bad as many thought it would all because of books. And toys. But definitely books. Actual books printed on (hopefully) recycled paper. I kid you not. It helped B&N rake in 93 cents per share in profits and helped store sales increase by 1.7%. Sure it wasn’t the forecasted $1.23 per share, but hey, Barnes & Noble will take it. Also, college books proved to be a big help in the fight against horribly missed earnings, with revenue coming in 7.2% higher. Barnes & Noble has plans to spin spin off its college books division in the summer. And now, instead of closing 20 stores this year, Barnes & Noble only plans to close 13 stores.

Zynga Zinger, Supreme Cyber Smackdown and Fannie Mae is Back on Top

Game over?

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Zynga took a nasty little hit to its second quarter earnings by barely breaking even. And that’s being generous. While Wall Street was hoping to see revenue of $157 million, the San Francisco-based gaming company, currently notable for “Farmville,” took in $153 million in revenue with a $.07 per share loss. Ah! But what is a mere $.07 in the grand scheme of things, you might be wondering? Well that grand scheme adds up to a $62.5 million loss. Last year at this time the company’s loss was but a mere $15.8 million. However, there is hope on the mobile horizon, or so Zynga feels, as “Farmville 2: Country Escape” has become an Editor’s Choice in the Apple App store – a very significant barometer of what makes a game successful. Then there are those handy licensing deals with the NFL and Tiger Woods, among others, that Zynga is counting on to turn those earnings in the up direction.

E-commerce competition!

Image courtesy of cooldesign/FreeDigitalPhotos.net

Image courtesy of cooldesign/FreeDigitalPhotos.net

It’s about to get a whole lot nastier – but luckily, not for consumers – in cyberspace thanks to the nifty new alliance that was forged between Barnes & Noble and Google. Yes. I did write Google – well Google Shopping Express, to be more precise. The two companies have teamed up to provide a little competition to Amazon. But that’s not in the official statement, of course. The partnership, which should give a much needed boost to the bookseller, will provide same-day delivery in certain areas, just like rival Amazon. After all the trouble Amazon caused for book publisher Hachette, this new deal probably couldn’t have come at a better time as consumers are feeling a little less affectionate towards the e-commerce giant. Google Shopping Express has already teamed up with major retailers like Target and Costco. By the way, you can subscribe to Google Shopping Express free for the first six months, with a subscription fee to be determined at the end of that time. Or you could just plunk down $4.99 per order. Happy shopping!

Pay it backwards…

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Fannie Mae, who once upon a time had to hit up taxpayers to the tune of $116 billion at the height of the financial crisis is about to have paid us all back in full. Sort of. The mortgage lending company just reported its tenth straight profitable quarter – $3.7 billion in profits, in fact.  And a check for that amount is in the mail…to the US Treasury. After the Treasury cashes that out, Fannie Mae can take a breather as it will have more than fully repaid its debt. And while that $3.7 billion profit might seem impressive, that figure is actually a 63% decrease over the same period last year, where Fannie Mae pulled in over $10 billion in profit.  Incidentally, Fannie Mae earned $84 billion in 2013. Not bad for a year’s work, huh?